Two Candlesticks Hammer Appear. We Might Have A Technical Rebound On FBMKLCI?
Two Candlestick "Hammer" appear for the
last 2 trading days. It shows that the FBMKLCI is gaining some support
especially during the closing trading hours. It also appear that the
index closed above the 200 days moving average of 1,818 point. The 1,818
point appear to be a very strong support at these moments.
Indicators still appear weak for FBMKLCI
and it didn't show any sign of improvement and the world equities
markets are facing some selling momentum.
If today the FBMKLCI closed higher and
stay above 1,818 point with long white candlestick, we might have some
trend reversal ahead. It is still too early to tell but based on today
opening at low 1,808.32 (-12.65), if the index close higher we might
have a trend reversal; maybe a small technical rebound might happen to
the FBMKLCI.
This is just my point of views and we
cannot treat as an intention to buy or to sell. Anything can go wrong
from here. Just be careful when we do the trading.
Group discussion on "Malaysian-Shares FBMKLCI" Facebook.
https://www.facebook.com/groups/1389228124738367/
http://malaysianshares.blogspot.com/
